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Day: April 13, 2011
April 132011
Swedish Krona Rises with Better Growth Outlook
The Swedish krona strengthened today after the government raised its growth forecast for the nation’s economy, adding to reasons for the central bank to raise its interest rates. The government estimated that Sweden’s economy will expand 3.8 percent in 2012 and 3.6 percent in 2013. The growth forecast for this year was revised to 4.6 percent from the last month’s estimates of 3.7 percent growth. Economists expected increase of the nation’s trade surplus and decrease […]
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April 132011
Sterling Recovers from Six-Month Low vs. Euro
The Great Britain pound went down today to the lowest level in six months versus the euro as the inflation grew less than forecast and the jobless claims rose, but recovered as unemployment rate unexpectedly fell. The currency also gained against the US dollar. The UK consumer prices rose 4 percent in March, while they were expected to rise 4.4 percent â the same rate as in February. The number of people seeking jobless benefits […]
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April 132011
EUR/USD Trades Sideways, Positive US Data Pushes Lower
EUR/USD traded flat today without any major moves to either side, but the currency tends to weaken at present time. The reports today showed that the US economic recovery persists. EUR/USD currently trades at 1.4480. Retail sales increased 0.4% in March, following the increase by 1.1% in February. Median forecast promised growth by 0.6%. (Event A on the chart.) Business inventories rose 0.5% in February from January, when they increased by 1.0%. […]
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April 132011
Loonie Falls as BOC Keeps Main Rate Unchanged
The Canadian dollar slid after Canada’s central bank left its key interest rate unchanged and on concerns that strong currency may harm the nation’s economic growth. Currently the currency rose a little and moves sideway versus the euro and the US dollar. The Bank of Canada left its overnight rate at 1 percent, as was expected by Forex market participants. The Bank explained its concerns about the strong currency in the statement: The persistent strength […]
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